Ownership without investing any money?????

Posted in Restaurant Ownership Questions 4 months ago, 0 replies

My husband's friend (Joe) has introduced him to a guy (Mike) so that they could do business. Mike has extensive experience with starting up restaurants and managing them. Mike has proposed to open up a restaurant with my husband wherein my husband is putting up all the money and Mike is asking for 25% ownership and a salary of $600 per week before opening the business and after opening $1200 per week. Mike has also proposed that later Joe would come in and get 5% because he paired my husband and Mike together to do business. Does this sound reasonable??????? (Mike and Joe are brother-in-laws) Mike has proposed to put in 45 to 50 hours a week up until 1 year after the date of opening.
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